Danish wind energy developer Ørsted has announced plans to reduce its workforce by 25% over the next two years, which equates to about 2,000 positions out of its 8,000 employees. This decision is part of a strategy to restructure the company following recent setbacks in the industry.
The company, headquartered in Oslo, currently employs over 1,200 workers in the UK and intends to make approximately 500 redundancies by the end of this year, including 235 positions in Denmark. Ørsted’s leadership cited the need for greater efficiency and flexibility as key reasons for this move.
The decision comes in light of a series of challenges faced by the company, including a significant drop in its share price after the Trump administration halted work on a windfarm project off the coast of Rhode Island. This pause in development has compounded difficulties for Ørsted, which has also canceled plans for a large offshore windfarm in the UK, deeming it economically unfeasible due to rising inflation and costs in the global supply chain.
In response to the political climate in the US, Ørsted was prompted to raise over $9 billion in funding, as attracting investment for its pipeline of projects became increasingly challenging. Although a US court recently permitted the company to resume work on the Revolution Wind project in Rhode Island, Ørsted plans to refocus its efforts on Europe’s offshore wind sector and select markets in Asia once its current project pipeline is completed.
Chief Executive Rasmus Errboe emphasized the necessity of these changes, suggesting they are critical for focusing the business and completing large construction portfolios efficiently. In recent trading, Ørsted’s market value, although slightly improved from its August lows, remains 53% lower compared to the previous year.
Source: https://www.theguardian.com/environment/2025/oct/09/worlds-biggest-offshore-wind-company-to-cut-a-quarter-of-its-workforce-as